Powerbridge Technologies Announces the Strategic Acquisition of DTI Group to Expand its Operations in Trade Digitalization
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) has acquired a 19% stake in DTI Group Limited, a leading technology firm specializing in digitalizing international trade. This strategic acquisition aims to enhance Powerbridge's operations within the digital trade ecosystem and support the United Nations' project for improving cross-border trade efficiency. CEO Stewart Lor highlighted the growing demand for international trade digitalization and the potential for increased investor value through this partnership.
- Acquisition of 19% stake in DTI Group enhances operational capabilities.
- Collaboration supports UN's project to improve digital trade connectivity.
- Market demand for international trade digitalization is rapidly growing.
- None.
ZHUHAI, China, Nov. 14, 2022 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a provider of multi-industry technology solutions, announces that the Company has acquired
The acquisition is consistent with the Company's development plan and contributes to the expansion of its operations by building a trade digitalization ecosystem. DTI is one of the leading platform developers and service providers for Digital Trading Infrastructure & Online Dispute Resolution, a global project initiated by the United Nations Conference on Trade and Development. With the strategic acquisition, Powerbridge and DTI will be working closely together to implement the United Nation's project (the "Project").
The objective of the Project is to enhance digital trade connectivity and operations among online cross-border trade platforms and offline trade hubs in order to empower both the established and new global trade players. The Project will also be equipped with various digital trade systems that encourage cooperation and communications among local and global players, which is designed to increase the overall efficiency of cross-border trade and e-commerce.
Stewart Lor, CEO of Powerbridge commented: "We see that the market demand for international trade digitalization is growing rapidly. We look forward to working with DTI to integrate our technology and market resources in developing and implementing the United Nation's Project. We believe this acquisition is critical to our growth and will enhance investor value."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a provider of multi-industry technology solutions, including software applications and services for the global trade industry, IoT platform services as well as intelligent fixtures and devices for smart city operations, supply chain platforms and social livestreaming services for the retail industry, metaverse and smart solutions for the travel and leisure industry, as well as digital asset management and operations.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
Corporate Investor Relations
Powerbridge Technologies Co., Ltd.
Email: ir@powerbridge.com
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SOURCE Powerbridge Technologies Co., Ltd.
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